Pressure on Europe

I can't help thinking but that there'll be fairly heavy downward pressure on the European markets today.

The fact that Monday was MLK Day only aggravates the situation. If there had been a day's trading between yesterday's sell-off and today's European opening, there would be a chance that market could bottom out there.

But it can't bottom in Europe, because the worry about what will happen at the open in the US will prevent anyone from wanting to buy.

Anyhow, two minutes to open for the DAX. We'll see what it has in store.